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19th century advice for 21st century problems


Banks are starting to digitize, and it is a hard and dangerous journey, but they have no choice. Mistakes will be made, and some decision-makers will lose heart and half-arse the process.


  • The financial services world thought they had more time, but the digital era came much faster and more all-encompassing than expected.
  • Banks are not set up from a business perspective to make long-term bets and plan for an open-ended horizon that affects investments in technology infrastructure, pricing, and market positioning.
  • Banks are not set up from an organizational perspective to adapt to change, re-plan, and think laterally.
  • Banks are moving to the cloud, embedding corporate payments, and straight-through mortgage approvals.
  • Banks are looking at their organizational principles, risk culture, talent acquisition, and retention.
  • Doing all this digitization at once, while also doing business as usual, is hard and dangerous.
  • The most dangerous moment for a bad government is usually when it begins to reform itself.

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